“Idol” judge and talk show host Ellen DeGeneres now has her very own record label and her first client – 12-year-old Greyson Chance.

“Greyson … inspired me to start a record label called eleveneleven. He is my first artist and we are making a record together,” DeGeneres said in a statement on Tuesday, according to Reuters. On Wednesday she officially made the announcement on “The Ellen DeGeneres Show.”

Chance became an Internet celeb earlier this month after posting a YouTube video of himself singing Lady Gaga’s hit song “Paparazzi” at a sixth grade music festival.

Blogs such as The Daily What and Best Week Ever took notice, as did Ellen, who invited the preteen to perform on her show May 13.

His “Paparazzi” cover, which was posted online less than a month ago, has now been viewed over 23 million times.  Chance, who hails from Edmond, Okla., has also posted a few tunes he’s written himself, including “Stars” and “Broken Hearts.”

In addition to a label, Chance also has two co-managers – Guy Oseary, who manages Madonna, and Troy Carter, Lady Gaga’s manager, according to Reuters.

The Associated Press reported that no date has been set for Chance’s debut album and said that a source familiar with eleveneleven revealed Ellen may distribute the label through a major record company. The new label is a collaboration between DeGeneres and Telepictures Productions, the producer of her syndicated talk show.

“She has talent, she has feel, and she has the platform. She’s the modern record company. Ellen is what a record company will look like in the future,” said Jimmy Iovine, chairman of Interscope, Geffen and A&M Records.   

Click here for the AP story.

Click here for the Reuters story.